A No Win, No Fee Lawyer is a solicitor that will take a case and will not ask for any payment if the case is lost. The fee is known as conditional fee, or contingent fee (in the US), and it refers to payment to be provided if and when the case achieves a favorable outcome.
Benefits of Hiring a No Win, No Fee Lawyer
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Legally, it is defined as the fee charged for a solicitor’s legal services for successful lawsuits or favourable out-of-court settlements. Usually, it is computed as a percentage of the net recovery that the client will receive. In order for you to get a No Win, No Fee Lawyer, you must first get into an agreement with a law firm. It is something that a lot of law firms actually advertise as a means of attracting new business.
However, it is important to understand that due to high risk, few lawyers really accept cases on now win, no fee agreements; unless they are sure that the case has positive merits.
Benefits of Conditional Fees
The benefits to the clients are quite obvious. First, it will be easy for anyone, especially for the financially less-privileged, to pursue their rights. If you have no capacity to afford legal fees or to pay for civil litigation costs, this is the kind of deal that you should go for.
Another benefit is that you can be assured that your lawyer will work hard to win your case. A contingency fee has been proven as a great motivational tool for solicitors. They need to work diligently to win the case or they will not be paid. Due to the financial risk, a lawyer under the contingency fee agreement uses everything within his power to guarantee a successful result.
Important Things to Know About Contingency Fee Agreements
Conditional fees do not provide the guarantee of access to court or surefire civil justice. Not every lawyer likes working for No Win, No Fee agreements. Most times, only the strongest claims are being chosen by solicitors. If your case is not likely to be successful, you may find it difficult to find a law firm to take on your case on a no win no fee basis. Cases that are not immediately transparent usually get turned down. The reason for this is the high cost and risk of the required intensive assessment and investigation.